ap4 Flashcards
marketing definition
Marketing is the management process
involved in identifying, anticipating and
satisfying consumer requirements.
what does marketing involve
research, analysing, setting marketing goals, developing strategy
market orientation
When a business bases its marketing mix on
its perception of what the market wants.
production orientation
When a business bases its marketing
mix on what the business sees as its internal
strengths.
asset-led marketing
A marketing strategy based on a
firm’s strengths, not solely on the customers’
needs.
product portfolio
A product portfolio:
* spreads fixed costs
* allows for greater economies of scale
* allows the targeting of wider markets
* reduces risk
* smooths out overall sales
* creates opportunities for growth.
branding
It is a name, term, sign, symbol or design that
identifies a seller’s products and differentiates
them from competitors’ products.
flexible working
A worker on flexible hours
has an agreed number of working
hours. These are made up of core hours
that must be worked – the remainder of
the contracted hours can be worked on
a flexible basis.
scientific school - taylor
Motivation is external – money
Employee is a number
One way communication –
heavily supervised
work hard
human relations school - mayo
Started to think about the social needs of the employees
teamwork
workings outings
maslow
hierarchy of needs
hezburg
People face two major influences at work
Hygiene factors & Motivators
vroom
each individual will have different
goals
Secondly: people only act to achieve them if
they think there is a change of success
Thirdly: the value of the goal to the
individual affects their motivation
non financial methods of motivation
enrichment, enlargement, job rotation, empowerment
financial methods of motivation
bonus, commision etc
mcgregors X and Y
believed there are two different types of managers
theory X
workers only motivated by money
lazy and dislike work, selfish
workers must be supervised
theory Y
working is as natural
workers cannot be motivated by money alone
workers want to contribute
workers more efficient
consequences of theory X
workers will have little or no ambition,
tasks must be broken down as simple as possible
consequence for theory Y
requirement for training
flexible working
organisational structure
The way in which a business is arranged to carry out it’s
activities, eg hierachial structure
labour productivity
Calculation:
Labour Productivity = output / number employees
absenteeism rates
no staff absent / total staff x 100
labour turnover
no of staff leaving per year / avg number staff x 100